Social Media and Banking Industry: How Banks Are Using FB and Twitter

Should banks alone be left out in not using social media? In the recent past, it has been very common that social media has become very popular in transmitting data. Banks are not an exception in this regard. They have started to use social media and have started to use the credit and the debit cards. For marketing and communication, social media would be very helpful. Let us now see how the banks use the social media.

Ways in which banks use social media:

  • Do you remember how banks were before? They are always people who deny of giving the loans for cars or for home. Do you think the situation is still persisting? Do the banks deny of giving housing or car loans? Of course, not. Bank people are so much eager in giving housing loans. The people and the world are changing at a very great speed. The banks have changed in such a way that there is heavy competition within them as who gives at much lesser interest rate. Thus community building is very much essential for the banks as every people are attached to many of the sentiments like housing loans, or getting loans for education. Thus, each bank should be competitive in their own terms to make the marketing strategy. Social media has great advantage for banks as they can keep the branch office in one place and keep in track of all the customers using the social media.
  • How do you rate whether your service is being satisfied by the customers? To know these results, you can use the social media. Social media will help you in developing new products and create a new social network that will help you in increasing your business. This is a very powerful research and you can rely on it. It is very helpful when there are more customers. In the past, there were no means to know about the satisfaction of the customers. However, now there is a heavy competition and you should be in the top to withstand the world.
  • Do you think customer service is important? Yes, of course. No business can survive without good customer service. Nevertheless, not all banks provide good customer service. If the banks discuss about the products and other services in their social media, then it will help the banks in increasing their connectivity with the people. When banks use the social media customer service, then they are in line with their clients and they will help in providing good service and increase their productivity.  Banks nowadays use different social media tools to connect with their users such as twitter, facebook or even linkedin.
  • Survey has been conducted and the results show that banks that use social media for branding themselves or for providing service have been successful in their products. By using the social media in banks, it helps people in connecting with the banks more easily. Thus these are some of the essential tools that are very much necessary in growing the banks.

Communicating with the people with the right information is more important. It becomes very much necessary for people to trust the banks. Thus through social media, banks provide all the information and they try to be transparent as it is very much necessary for attracting more clients. Thus banks use social media for mining personal information and other online transactions.


From the above article, you would have seen the importance of social media in banks. Thus, social media play an important role in increasing the number of clients. By making your status active in the social media like Twitter, Facebook and LinkedIn, you can make sure that you have a great connectivity with your clients and you can understand about the satisfaction of the clients.

About the Author

I am working as Editor in Chief for Writing on Financial Topics is my passion. You can find me on , Seeking Alpha Instablogs or join our Facebook Community, s. FNI is a great Community for financial bloggers and writers. Get everything you wanted to know about your finance and investment related matters such as mutual funds, banking, retirement, economics and much more.

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